Copeland Capital Management LLC Lowers Stake in Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Copeland Capital Management LLC reduced its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 55,052 shares of the transportation company’s stock after selling 2,297 shares during the period. Copeland Capital Management LLC’s holdings in Old Dominion Freight Line were worth $10,936,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ODFL. Vanguard Group Inc. grew its position in Old Dominion Freight Line by 100.9% during the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Old Dominion Freight Line by 59.0% in the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after acquiring an additional 2,447,121 shares in the last quarter. Capital World Investors boosted its holdings in shares of Old Dominion Freight Line by 101.0% in the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after acquiring an additional 1,228,116 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 283.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after acquiring an additional 815,817 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ODFL. Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. Robert W. Baird lifted their target price on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Citigroup began coverage on shares of Old Dominion Freight Line in a report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 target price on the stock. Susquehanna lifted their target price on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the company a “positive” rating in a report on Wednesday, September 18th. Finally, BMO Capital Markets cut shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $214.00 to $210.00 in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of “Hold” and a consensus target price of $199.44.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $199.55 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock has a market cap of $43.36 billion, a P/E ratio of 34.20, a PEG ratio of 4.18 and a beta of 0.99. The company has a 50-day moving average of $195.68 and a two-hundred day moving average of $191.03. Old Dominion Freight Line, Inc. has a 12-month low of $165.49 and a 12-month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 earnings per share. As a group, research analysts predict that Old Dominion Freight Line, Inc. will post 5.59 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is presently 17.82%.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.